Brothers, I have carefully reviewed the chart. To get straight to the conclusion, this trend is almost exactly as I predicted, which is a typical technical response after 'good news turns to bad news'. Don’t be fooled by that upper shadow, let me break it down for you.

First, let’s look at the big structure. After the price surged to 94443, it went down all the way. This spike represents the last struggle of the bulls and signs of unloading during the news release in the morning. The current price hovers around 90267, having already broken below MA7 and MA30. Especially, MA7 crossing below MA30 forms a death cross, which is a clear signal of a weakening short-term trend.

Next, let’s examine the details. The drop this morning was accompanied by a significant increase in trading volume, indicating a genuine drop with volume, not just a shakeout. Currently, although the volume has decreased, the price rebound can't even surpass MA7, which is a sign of a weak rebound. The key support below is near the previous low of 89321. If this level does not hold, the downward space will open up.

My view is very clear: the short position is dominant in the short term. The 'good news' of interest rate cuts has been fully digested by the market in advance, while future tightening expectations (only one cut next year) have become a new knife. Funds are currently very hesitant and do not dare to go long significantly.

What to do next? I have two paths for you.

For the conservative brothers, I suggest one word: wait. Don't rush to catch the bottom; the trend hasn't clarified yet. Wait until the price either shows a significant volume and stabilizes above MA30, or there is a clear stop-loss signal near 89321 (for example, a long lower shadow combined with shrinking trading volume) before acting. Making a move now can easily result in catching a falling knife.

For the aggressive brothers, if you want to operate, remember to only trade with the trend. The current trend is bearish, so the strategy is to find resistance levels to short during a rebound. You can pay attention to the range of 91500 to 92000. If the price rebounds to this level and fails to break through, consider trying a small short position. Set the stop loss above 92500, with the target first looking at 89300. Remember, it must be a small position, set a stop loss, and never hold onto a losing position.

There are always opportunities in the crypto circle, what’s lacking is patience. Don’t think about buying at the lowest point; let the market choose its direction, and then we can follow along for the gains, which is more prudent. Don’t forget, the wind direction of the macro environment has changed, so operations must be more cautious than before.

The above is just personal analysis and does not constitute investment advice. The market changes rapidly, everyone should make their own judgment and control risks. @俊哥说趋势